TLDR
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SharpLink Soars After $25.7M Ethereum Buy, Becomes 2nd-Largest Holder
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SBET Stock Jumps 14% as SharpLink Adds 10K ETH to Treasury Reserves
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SharpLink Shifts to Blockchain, Buys $25.7M in ETH, Stock Pops
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SharpLink Embraces Ethereum, Stock Surges on Bold Crypto Pivot
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SharpLink Bets Big on ETH, Market Cheers Blockchain Treasury Shift
SharpLink Gaming, Inc. (Nasdaq: SBET) surged 14.07% to $21.08 by 10:49 AM EDT, driven by a major Ethereum purchase. The stock spiked above $22 around 10:30 AM before settling slightly higher than $21. Market reaction followed the company’s $25.7 million deal with the Ethereum Foundation for 10,000 ETH.
Ethereum Deal Sparks Strong Market Reaction
SharpLink confirmed the acquisition of 10,000 ETH at $2,572.37 each, completed on July 10, 2025. The over-the-counter transaction with the Ethereum Foundation totaled $25,723,680 in value. This move expanded SharpLink’s ETH holdings from 205,634 to 215,634 coins.
NEW: SharpLink has acquired 10,000 $ETH directly from the Ethereum Foundation
The purchase closed at ~$25.7M, with $ETH acquired at an average price of ~$2,572
Ethereum is entering a new era of institutional relevance, and we’re proud to support its long-term strength and… pic.twitter.com/ow1e2PXQ1W
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 11, 2025
The deal positions SharpLink as the second-largest corporate holder of Ethereum globally, based on public disclosures. SharpLink financed this transaction through at-the-market equity offerings and a $425 million private placement. The fundraising was led by Consensys, a blockchain firm founded by SharpLink Chairman Joseph Lubin.
SharpLink emphasized that this is not a short-term position but a strategic reserve move. The company has adopted Ethereum as its primary treasury reserve asset. This signals a major shift in traditional treasury management among publicly traded firms.
Ethereum (ETH): Core to SharpLink’s Strategy
Ethereum plays a central role in SharpLink’s business and long-term strategy. The company actively acquires, stakes, and restakes ETH to support decentralization and DeFi infrastructure. These activities reduce ETH’s circulating supply and align with its commitment to Web3.
Ethereum is the leading blockchain for smart contracts and decentralized applications, powering a significant share of the digital economy. With this ETH expansion, SharpLink is integrating deeper into the blockchain ecosystem. It also aligns with Ethereum Foundation’s goals of expanding institutional engagement.
The Ethereum Foundation, based in Zug, Switzerland, oversees Ethereum’s development and broader ecosystem support. SharpLink’s purchase contributes capital while aligning its treasury with protocol-native assets. This supports Ethereum’s stability and long-term network sustainability.
SBET Stock Responds to Aggressive Blockchain Shift
The market responded positively to SharpLink’s bold blockchain realignment and treasury pivot. The stock price surged in early trading, supported by momentum following the Ethereum deal. SharpLink’s shares traded at their highest levels since the start of the month.
This performance reflects growing confidence in blockchain-backed strategies among public companies. SharpLink continues to reshape its profile from a software firm to a blockchain-native enterprise. Its dual focus on iGaming technology and crypto integration is redefining its future outlook.
The company operates from Minneapolis and develops affiliate marketing and iGaming solutions. Now, it seeks to fuse digital assets into real-world gaming platforms. With strong crypto backing, SharpLink is repositioning as a pioneer in the new digital finance space.
